What is BTC-Parachain? This is a proof of concept implementation of a BTC Parachain to bring Bitcoin into the Polkadot universe. It allows the creation of PolkaBTC, a fungible token that represents Bitcoin in the Polkadot ecosystem. PolkaBTC is backed by Bitcoin 1:1 and allows redeeming of the equivalent amount of Bitcoins by relying on a collateralized third-party.
What is BTC-Parachain? This is a proof of concept implementation of a BTC Parachain to bring Bitcoin into the Polkadot universe. It allows the creation of PolkaBTC, a fungible token that represents Bitcoin in the Polkadot ecosystem. PolkaBTC is backed by Bitcoin 1:1 and allows redeeming of the equivalent amount of Bitcoins by relying on a collateralized third-party.